As global markets turned their attention to the Swiss Alps, where highly anticipated trade talks between Washington and Beijing were underway, White House economic advisor Kevin Hassett issued remarkably optimistic statements about the outcome of the meeting, noting "positive signs." These statements reflect both sides' intentions to break the deadlock and ease years of trade tensions.
Hassett, who heads the National Economic Council, explained in an interview with CNBC that he spoke personally with US Trade Representative Jamison Greer and Treasury Secretary Scott Besant as they departed for Switzerland.
Hassett described the atmosphere of preparations as "very promising," indicating "mutual respect and a genuine spirit of cooperation," stressing that what is taking place behind the scenes indicates the possibility of "positive developments" during the meeting.
These statements come amid widespread anticipation for this week's bilateral meeting between US Treasury Secretary Scott Besant and Chinese Vice Premier He Lifeng in Switzerland, the highest-level meeting between the two countries in months.
It aims to reset the trade compass after years of conflict that began when President Donald Trump's administration imposed steep tariffs on Chinese imports, prompting Beijing to respond with similar measures.
In a statement issued by the US Treasury Department, Bessent indicated that he was heading to Switzerland "to engage in constructive discussions aimed at rebalancing the international economic order to better serve the interests of the United States," hinting at a US desire to reshape the rules of the economic game with the world's second-largest economy.
For its part, the Chinese Foreign Ministry confirmed that He Lifeng, Vice Premier of the State Council and member of the Politburo of the Communist Party, will visit Switzerland between May 9 and 12 at the official invitation of the Swiss government. He will meet with Besant "as the primary point of contact on economic and trade issues between China and the United States."
In this context, markets and economic observers appear to be facing a new test: Will Washington and Beijing succeed in opening a new chapter in trade understanding, or will structural differences return to impose a more tense reality?